D.C. Individual Retirement Accounts
Qualified Retirement Accounts and Non Qualified Retirement Accounts in Washington D.C.
Tax Qualified Retirement Accounts and Non Qualified Retirement Accounts
Individual Retirement Accounts in Washington D.C. District of Columbia
District Annuity Resource offers Individual Retirement Accounts in Washington D.C., District of Columbia. It is easy to start an account but there are many choices, so we want you to take your time, examine all of our products, their features and chose a path for your future. We offer IRA’s, 401(k) Rollovers, IRA Rollovers, Roth IRA plans, Roth Conversions, SEP IRA plans, TSA 403(b) plans as well as Non Qualified retirement, investment and savings plans. See our portfolio section below to discover the differences of each plan and let us help you make the best choice for you.
Throughout the website you will see all of our Individual Retirement Accounts that we offer. Take your time and visit all of the pages to educate your self on the various options that each of them have. Then we strongly suggest taking a look at your own situation to see if you will actually max out your account each year. If you can max out your 401(k), then we would suggest an IRA, or even an additional Roth IRA. If you have still maxed out all of these accounts and still want to save more for retirement, then we suggest looking at some other options like Non-Qualified Annuities.
We look forward to working with you and please feel free to call or email anytime with your questions.
Tax Qualified Retirement Accounts
There are many choices for tax qualified retirement accounts but as the name implies. They are started with before tax dollars and comply with the IRS definition of tax qualified which means that taxes are deferred until withdrawn. The whole concept is you hope to be in a lower tax bracket upon retirement thus as you take distributions from the account, it will be a lower amount, thus lower taxes. It is ultimately up to you if you want to have taxable income upon retirement or tax free income upon retirement. There are also certain things to think about in conjunction with Social Security Income and your overall tax burden. We can help expose you to the different options in regards to Individual Retirement Accounts that meet your specific needs upon retirement.
Non Qualified Retirement Accounts
Please do not be disturbed by the name non qualified. The term that is used basically describes weather a plan follows the rules set by the IRS for retirement plans and how the plan is funded. Simply put, non qualified retirement plans are funded with after tax dollars. If you already are maxed out for your employer sponsored retirement plan, 401(k) or individual retirement account. A non qualified retirement plan could be an option for you to save additional monies to ensure you will never outlive your savings and possibly have an estate to pass on to loved ones. When your non qualified plan is funded, it is done with after tax money so upon withdrawal from these types of plans, there is a cost basis or formula known as LIFO which means the last money in is the first money out. The plan and better yet the IRS can only tax you on the gains which usually comes out in the early years of retirement. However there are plans like a ROTH IRA, that are tax free when started in time and you follow the rules. So there are two options for tax free retirement income which are non qualified retirement plans such as annuities or a ROTH IRA annuity and when structured correctly will provide the income during your retirement years.
There are many things to consider when starting a retirement plan and there are a whole ton of options so one plan or one option might not do the trick. We will help you decipher the retirement plans and options that you have unique to your own situation and make impartial recommendations that are available to you.
We look forward to working with you.